Friday, January 12, 2018

A lesson on trade

From Don Boudreaux.

DB is on target.

Keep in mind that this applies to all trade.  The "imports" could be from the next state at the "expense" of jobs in your state.  For example, you gain by growing oranges in Florida at the expense of growing oranges in Maine.
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Here’s a quiz. Which of the following inventions would most increase Americans’ prosperity: an inexpensive pill that cures all heart disease and, therefore, destroys all jobs for high-wage cardiologists and heart surgeons, or an inexpensive electrical cleaning-and-tidying devise that destroys all jobs for low-wage hotel- and house-maids? Only if you prefer the second invention to the first are you consistent when you bemoan imports that destroy existing high-wage jobs.

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